Fin. Code, § 7505.5 · Article 6. Real Estate Loans
Fin. Code, § 7505.5
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected future income for repayment, without other security, or relies on other assurances for repayment, including guarantees or other obligations of third parties.
(b) An association’s aggregate investment in residential real estate loans described in subdivision (a) shall not exceed an amount equal to 5 percent of the association’s assets.
Notes and commentary — not statutory text
History
Added by Stats. 1990, Ch. 1118, Sec. 44.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=7505.5.
- Text hash
- sha256 e393849babdeb366c99456504efb1e7c7faeefaf08907ee22bef301ceb4649d5
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.